Monday, June 18, 2012

MCX Gold Silver Trend For Tomorrow

MCX gold falls on Monday which results in trading in its lowest level in a week but traders are waiting for further price falls to book deals. MCX Gold august delivery was 0.30 percent down at 30,064 rupees/10 grms after hitting a low of 29,975 rupees during the session. Globally gold fell for the first time in previous seven session as risk of Greek exit from the euro zone. Experts believes that traders are not buying as prices are still high and waiting for more correction. India as a biggest buyer of gold is likely to remain sluggish in coming months as wedding season is almost over and arrival of monsoon. MCX Silver is also edging lower following gold. The most traded MCX Silver for July delivery was 0.33 percent lower at 54,360/kg.